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properties. He and these entities were also heavily involved in
a number of condominium conversion projects in various cities
around the country, in many of which Prudential held interests.
Mr. Frey and his related entities shared certain fees with Kanter
and his related entities, which respondent also contends
constituted part of the kickback scheme.
(3) William D. Schaffel. Mr. Schaffel was a mortgage broker
and real estate developer. Mr. Schaffel also assisted a New
Jersey general contracting company to obtain certain construction
contracts. From 1979 through 1986, he had extensive business
dealings on behalf of individuals he represented with Prudential
and Travelers. Mr. Schaffel shared with Kanter and his related
entities brokerage and development fees, which respondent claimed
was part of the kickback scheme.
(4) Property Management Systems, Inc. (PMS). The chairman
and chief executive officer of PMS was Kenneth Schnitzer. PMS
managed office buildings and other commercial real estate for
others pursuant to property management contracts. A relatively
small portion of its business included contract cleaning or
janitorial services on some Texas commercial properties it
managed. At one point, IRA acquired and owned a 47.5-percent
stock interest in PMS. Certain fees of PMS were also shared with
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